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RE: Weiss Cryptocurrency Ratings - Top Picks!
The issue is that these rating agencies are corrupt and take bribes. Remember, the rating agencies were instrumental in the approval of the CDOs (credit default swaps), which caused the 2008 financial crisis.
The way I see it: these so-called rating agencies are centralized organizations that are a part of the corrupt oligarchy of Wall st! They have no place in the decentralized world of cryptos.
You are mostly right (the system is stupid as companies being rated pay the rating agencies!).
But this one is an independent one, not paid by companies or cyptos but by investors subscribing to their newsletter !
But you have to be cautious of course and develop your own analysis.